11.16.07
Schering-Plough has received antitrust clearance from the U.S. Federal Trade Commission (FTC) regarding its acquisition of Organon BioSciences from Akzo Nobel. SP received approval from The European Commission on Oct. 11, 2007.
Organon BioSciences is comprised mainly of Organon (human pharmaceuticals), Intervet (animal health), Nobilon (human vaccine development), and Diosynth (contract manufacturing). In connection with the conditional clearance, SP and Intervet will divest three poultry vaccines in the U.S. The divestitures are not material to the company's financial results, according to SP. No divestitures of human health products are required. The acquisition should be completed by year-end 2007.
Organon BioSciences is comprised mainly of Organon (human pharmaceuticals), Intervet (animal health), Nobilon (human vaccine development), and Diosynth (contract manufacturing). In connection with the conditional clearance, SP and Intervet will divest three poultry vaccines in the U.S. The divestitures are not material to the company's financial results, according to SP. No divestitures of human health products are required. The acquisition should be completed by year-end 2007.